Barry Knapp, a strategist (whatever that is) at Barclays Capital and Liz Ann Sonders, a chief investment strategist at Charles Schwab are all about the crazy.
There is a growing belief among financial experts that the recession is over.
Barry Knapp, a strategist at Barclays Capital, wrote recently that the economy appears “to be in the sweet spot of a recovery” and that the recession may have ended last month, according to Bloomberg News.
Liz Ann Sonders, chief investment strategist at Charles Schwab, said on “Good Morning America” today that she agrees with that conclusion.
“It isn’t any brilliant prescience on mine or anybody else’s part,” Sonders said. “There’s certain indicators we can look at to set the turn, and I think we have seen that turn.”
Who do I believe this time? Greg Mankiw and, curiously, by extension Paul Krugman of all people. Krugman on Wednesday:
“The market seems to be looking as if this is going to be an average recession, but it’s not … Everything says that’s wrong, that this is going to be a sustained period of weakness.”
Yes, Hoystory agreeing with Krugman is one of the signs of the apocalypse. Be prepared.